Roundup: Saul Centers, Liquidity Services, Capital One
Some of today's news, from staff and wire reports:
*Saul Centers of Bethesda said it bought three properties for a total of $60.6 million, including the assumption of a nearly $10.4 million mortgage loan. It bought the 89,000-square-foot Great Falls Center in Virginia, which includes a Safeway and a CVS, and the 115,000-square-foot property that houses BJ's Wholesale Center in Alexandria.
Rounding out the purchase is the 22,000-square-foot Marketplace at Sea Colony in Bethany Beach, Del., Saul Centers said.
*Liquidity Services of the District, which sells surplus inventory for business and the government, said it is acquiring Geneva Group of Britain for about $17 million. Geneva Group remarkets customer returns and overstock merchandise for British retailers.
Liquidity Services said the deal is expected to close in the next 90 days. The company expects it to add $23 million in sales and 1 to 2 cents per share of earnings in fiscal 2009.
*Capital One Financial said uncollectible debt rose in March.
The reported annualized net charge-off rate climbed 0.29 percentage points from February to 3.26 percent last month, the McLean-based company said in a regulatory filing. The reported delinquency rate advanced 0.03 percentage points, to 3.26 percent.
*Fannie Mae of the District plans to introduce a program that will enable more delinquent homeowners to sell their houses for less than is owed on their mortgages. Fannie avoids possibly larger losses when allowing these "short sales" and enables borrowers to escape having foreclosures on their credit records.
*Wisconsin Attorney General J.B. Van Hollen sent a letter to the Federal Communications Commission and his state's congressional delegation opposing a deal to join the nation's only two satellite radio companies, XM Satellite Radio of the District and Sirius Satellite Radio of New York.
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